Shaking Up Europe
summary
Europe loses market-cap share among the world’s 50 biggest firms from about 30% in 2000 to under 10% in 2020 while US share rises to roughly 75%, and unicorn creation still clusters in the US despite a recent uptick in France and Germany. The duolingo english test is a concrete example: $2.4B valuation, ~3,000 accepting institutions, <$50 price, AI-driven adaptive questioning and verification that works at scale. New EU rules would treat it as high-risk AI and trigger heavy compliance, undermining permissionless innovation.
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